The Carbon Disclosure Project (CDP) is a not-for-profit charity that runs and maintains a global disclosure system allowing investors, companies, cities, and regions to manage their environmental impacts. Since 2000, CDP has seen over 9,600 companies and 800 regions disclose their impact on water security, forests and climate change.
Why is CDP becoming more and more important?
CDP makes a response request annually to your company at the request of your investors, stakeholders, and customers. Responding is an essential first step in reducing your contribution to climate change, becoming a more resilient organisation, and planning any required adaptation.
How does it fit within your other responsibilities and strategy?
TCFD (Task Force on Climate-related Financial Disclosures) reporting is expected to become mandatory for PLCs, financial institutions, and large private companies by 2023 and then across the economy by 2025. Responding to CDP now will put you ahead of the curve regarding environmental disclosure. Further to that, there are other benefits that could align with your business case that you should consider. Here’s just a few:
- Protect and improve your company’s reputation by letting your investors, stakeholders and customers know that you are taking action.
- Boost your competitive advantage by improving your performance on the stock markets, access to new investment and improved tender success.
- Identify risks and opportunities for your business emerging from environmental changes that would otherwise be overlooked.
- Track and benchmark your environmental progress against your peers and competitors.
What’s the best way to get started?
Commit to responding!
Each response to CDP is assessed and scored based on the level of progress made towards environmental stewardship. These scores start from D- and end at A. Once assessed, your score is publicly available on CDP’s website for your investors, stakeholders, and customers to evaluate.
What’s particularly key to bear in mind is that non-responders are still listed on CDP’s website and automatically score an F.
Do you have specific questions about your company’s situation or deadlines?
The Head of Strategy at Energise, Kesi Courtman, is hosting a webinar on the 1st June at 12:00, for those who would prefer a little more information and a Q&A on CDP. Register here for a free place: Registration (gotowebinar.com)
Do still sign up even if the time doesn’t work for you; we can send you the recording to watch back at your own pace.
The consultancy team at Energise is well-positioned and experienced with CDP to assist you in responding in the best way. They currently produce CDP responses for a number of FTSE organisations, as well as other large organisations.
A consultant can support you in measuring, formulating and submitting your response, as well as taking the next step and planning to act in areas of most importance. Energise encourage you to view your score as the baseline you can then build upon together.